CURRENT AFFAIRS

Detailed explanation-1: -Axis Bank and its subsidiaries Axis Capital Limited and Axis Securities are the co-promoter of Max Life Insurance following the acquisition of a 12.99 per cent stake in April 2021.

Detailed explanation-2: -Axis Bank and its subsidiaries - Axis Securities and Axis Capital - collectively hold 12.99 per cent equity in Max Life Insurance. The bank has a right to acquire an additional stake of up to 7 per cent in Max Life, in one or more tranches.

Detailed explanation-3: -The lender in 2021 had announced the acquisition of equity shares of Max Life Insurance Company Limited (Max Life), a material subsidiary of Max Financial Services Limited (Max Financial) by Axis Bank and its subsidiaries, i.e., Axis Securities Limited and Axis Capital Limited under definitive agreements.

Detailed explanation-4: -Max life insurance company is very good one and it provided more benefits in less premiums. Service of the company is best including online renewals. Policy coverage and claims are high. Claiming procedure is very simple and easy to sanction the amount.